Royal Bank of Canada Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $25.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price trimmed by Royal Bank of Canada from $26.00 to $25.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Several other analysts also recently commented on the stock. Morgan Stanley initiated coverage on shares of Apellis Pharmaceuticals in a research report on Thursday, November 21st. They set an “equal weight” rating and a $31.00 price objective on the stock. Wells Fargo & Company lowered their target price on shares of Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. Piper Sandler lowered their target price on shares of Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Oppenheimer lowered their target price on shares of Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, Bank of America lowered their target price on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $45.53.

Apellis Pharmaceuticals Stock Up 3.8 %

NASDAQ:APLS opened at $26.00 on Monday. Apellis Pharmaceuticals has a 1-year low of $23.77 and a 1-year high of $64.33. The firm’s 50-day moving average price is $29.53 and its 200-day moving average price is $31.30. The company has a market capitalization of $3.23 billion, a PE ratio of -12.81 and a beta of 0.93. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings data on Friday, February 28th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.08. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The company had revenue of $212.50 million for the quarter, compared to the consensus estimate of $197.92 million. During the same period in the prior year, the firm posted ($0.73) EPS. Apellis Pharmaceuticals’s revenue for the quarter was up 45.2% on a year-over-year basis. On average, equities analysts predict that Apellis Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Apellis Pharmaceuticals news, insider Caroline Baumal sold 2,816 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $33.81, for a total transaction of $95,208.96. Following the completion of the sale, the insider now directly owns 55,560 shares of the company’s stock, valued at $1,878,483.60. This trade represents a 4.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Cedric Francois sold 2,824 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $29.52, for a total transaction of $83,364.48. Following the sale, the chief executive officer now directly owns 415,695 shares of the company’s stock, valued at approximately $12,271,316.40. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,365 shares of company stock worth $1,810,479. Company insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV grew its holdings in shares of Apellis Pharmaceuticals by 34.8% in the third quarter. KBC Group NV now owns 2,632 shares of the company’s stock valued at $76,000 after purchasing an additional 679 shares in the last quarter. Xponance Inc. grew its holdings in shares of Apellis Pharmaceuticals by 5.6% in the fourth quarter. Xponance Inc. now owns 14,072 shares of the company’s stock valued at $449,000 after purchasing an additional 749 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Apellis Pharmaceuticals by 2,707.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock valued at $25,000 after purchasing an additional 758 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Apellis Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company’s stock valued at $130,000 after purchasing an additional 781 shares in the last quarter. Finally, Woodline Partners LP boosted its stake in Apellis Pharmaceuticals by 0.5% during the fourth quarter. Woodline Partners LP now owns 189,477 shares of the company’s stock worth $6,046,000 after buying an additional 913 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

About Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. It offers EMPAVELI for the treatment of paroxysmal nocturnal hemoglobinuria, C3 glomerulopathy and immune complex membranoproliferative glomerulonephritis, and hematopoietic stem cell transplantation-associated thrombotic microangiopathy; and SYFOVRE for treating geographic atrophy secondary to age-related macular degeneration and geographic atrophy (GA).